*Data was derived from the Sussex County MLS. Includes properties sold in Sea Colony. May not reflect all activity in the marketplace.

Happy New Year!  As we reflect on 2024, you might recall that throughout most of the year, real estate sales in Sea Colony were much stronger when compared to 2023. Even as interest rates increased heading into the Summer season, inventory shortages kept values appreciating and sales remained high from January through October. Buyer activity slowed considerably in November and December, as anticipated, with the election and Holiday Season.

We are optimistic and enthusiastic about the Delaware beach markets in the year ahead!  If you are considering a purchase or sale of Sea Colony real estate, it is never too early to

Last month, we shared with you that real estate sales had been strong through the first 3 quarters of the year. This carried into October as 9 properties in Sea Colony went under contract last month. This is up 29% compared to 7 sales in October of 2023. As the graph illustrates, the median sale price for properties on both the East and West have risen in 2024.  During this time of Thanksgiving, we are grateful that so many of you look to our group for real estate guidance and expertise. We wish you all a healthy and very joyful holiday! If you are considering a purchase or a sale, it is never too early to have a conversation. Please reach out to our Sea Colony experts:

Gail Phelan                    Chris Housman
(302) 233-4909               (302)

Last month, we reported that the Sea Colony real estate market had picked up some in August. Unfortunately, that momentum was not as strong in September. During the month, 6 properties went under contract. This compares to 7 sales during the same month last year.

Through the first 3 quarters of the year as a whole, the market has been strong for sellers of all property types and locations in Sea Colony. While it is taking just a few days longer for properties to sell, the median sale price on both the East and West is up considerably.   If you would like to discuss the current environment in more detail, we always welcome a conversation.

Please call our Sea Colony Experts: Gail Phelan (302) 233-4909 and Chris Housman (302) 853-0192

This

Light traffic, cooler temperatures, and warm ocean breezes make September our favorite time of the year to live at the beach. This is also a special month for me, personally, as it marks 35 years since starting my career in real estate at the beach. I am extremely grateful to have earned the trust of so many of you over the years and together with Christi Arndt, Gail Phelan, Chris Housman, and the group, we will continue to offer the highest level of guidance and expertise in real estate well into the future!

After a flurry of activity in July, the beach real estate market slowed some in August when compared to the last year. During the month, 7 properties went under contract in Sea Colony. This compares to 9 during the same month last year. As the

Real estate activity in Sea Colony has remained strong when compared to last year.   After a firm Spring market that was fueled by increased inventory and more buying options, we experienced a nice flurry of activity in June and July. During those 2 months, 15 properties went under contract in Sea
Colony (versus 10 during the same time last year).

As the chart illustrates, both the number of sales and sales volume in dollars are up year-to-date. Inventory has increased 156% when compared to the same time last year, creating more competition for sellers. Meanwhile, properties continue to sell quickly with 12 days as the median days-to-contract.

So far this year, our Sea Colony Specialists have participated in nearly 30% of property sales in Sea

This is the time of year when we calculate absorption rates in order to understand whether we are trending in the direction of a buyer’s or seller’s market at the beach. We compare the pace of sales over the previous 12 months to determine how many Months Supply of Inventory is for sale.

Generally, a balanced market would have 7 months of inventory while more would be a buyer’s market and less a seller’s market. Both Sea Colony East and West continue to stay well under a balanced market due to good buyer activity. While inventory is growing (especially on the East), it remains a seller’s market.

If you would like to discuss the market in more detail as a buyer or a seller, please call our Sea Colony Specialists.

Gail Phelan              

The summer season is upon us, and we have enjoyed seeing so many of you enjoying the area over the last few weeks! During the month of May, 5 units went under contract in Sea Colony. This compares to 3 units at the same time last year, and 7 units in May of 2022. There is some softening of values, particularly for condos on the East where we have seen a notable rise in inventory (16 properties for sale vs. 6 at this time in 2023). However, there are still plenty of buyers waiting for specific properties to be offered for sale, especially on the West where there are now 4 properties for sale vs. 5 at this time last year.

If you have any questions about the market or a specific property, please call our Sea Colony Experts:

Gail Phelan (302)

Happy Spring! Last month, we shared with you that after many years of deficient inventory, we were starting to see properties coming on the market more frequently. As we start the month of May, this trend continues as inventory in Sea Colony has more than doubled when compared to the same time last year. Inventory is growing most significantly on the East. 

The real estate market remains firm in Sea Colony. As the chart illustrates, sales activity is up 79% so far this year when compared to the first 4 months of last year. Sales volume is up for both sides of the community. Prices remain stable on the West, but the market is showing some softening on the East. 

As always, if we can offer you any real estate guidance, please call our Sea Colony

For many months, we have been reporting that sales are down when compared to the same time period last year. This trend finally broke in August!   During the month, 10 properties went under contract in Sea Colony vs. 8 in August of 2022. Meanwhile, inventory is still deficient with only 8 properties for sale, the same as last year.

As the chart illustrates, total sales in Sea Colony market are down year-to-date for both the East and West while the median salesprice is up 5% and 8%, respectively. Properties tend to sell in just under 2 weeks with 12 days being the median amount of time to go under contract. We don’t know how long this flurry of activity will last, but it feels as though buyers are motivated to move on the right property.

On a

It is hard to believe that Labor Day weekend is right around the corner, we hope you are having a wonderful summer! While total real estate sales are down 33% year-to-date in Sea Colony, the market remains very strong.

It has been more than a year since the “buyer frenzy” we experienced in 2020 through early 2022, but it remains a strong time to be a seller with minimal competition. So far this year, our group has participated in more than 30% of property sales in Sea Colony.

As always, if we can offer you any real estate guidance, please call our Sea Colony Experts:
Gail Phelan: 302-233-4909  Chris Housman: 302-853-0192.

Data was derived from the Sussex County MLS. Includes properties in Sea Colony. May not reflect all activity in the